Behavioral finance is a field that is scrutinizing the adequacy of traditional financial theories using insights from the disciplines of psychology and sociology. Many studies within its realm test the stock market be...Behavioral finance is a field that is scrutinizing the adequacy of traditional financial theories using insights from the disciplines of psychology and sociology. Many studies within its realm test the stock market behaviors, and behavioral phenomena are still to be tested in the area of corporate finance. This study aims to contribute to the behavioral corporate finance literature by a research in one of the psychological phenomena affecting the decision makers＇ abilities to reach conclusions rationally. In this study, it is aimed to investigate one of the biases, namely, the optimism bias in corporate capital budgeting decisions. Optimism in decision making can be associated with estimating lower costs and higher revenues. Thus, by assessing the forecasts of decision makers, the existence of optimism in their decisions is tried to be seen. This study aims at contributing to the literature in that it is conducted in an emerging country like Turkey.展开更多
International joint ventures （IJVs） have increasingly their role in business world and also in research field of international business. There have been a lot of studies related to determinant factors of IJV perform...International joint ventures （IJVs） have increasingly their role in business world and also in research field of international business. There have been a lot of studies related to determinant factors of IJV performance. However, there are very few studies focusing on the measurement of I Jr performance. Especially, researchers have ignored how foreign parent firms really choose their measures in the evaluation of their IJV performance. This research investigates determinant factors of performance measures of 1JVs. Determinant factors of IJV performance measures include motives for establishment, establishment mode, location of IJVs, distribution of ownership in IJVs, cultural background of parent firms, and trust between partners, IJV life stages, parent firms＇ international experience, and relatedness of the IJVs to their parents. Performance measures are divided into financial measures and non-financial measures. The paper shows how different determinant factors are expected to lead foreign parent firms preferring one kind of measure over the other.展开更多
A refrigerant mixture TJR02 was developed and the comparison experiment was performed on a singlestage vapor compression refrigeration system originally designed for R22.Experimental results show that TJR02 can be dir...A refrigerant mixture TJR02 was developed and the comparison experiment was performed on a singlestage vapor compression refrigeration system originally designed for R22.Experimental results show that TJR02 can be directly used in the system without modifying the original system or changing lubricant.By replacing R22 with TJR02,cooling rate gets faster and at least 20% of energy is saved.The actual detection in the standard test-bed verifies the experimental results and indicates that the adoption of TJR02 leads to greater efficiency and wider application.And the lower the refrigeratory temperature is,the more obvious the energy saving effects will be.展开更多
文摘Behavioral finance is a field that is scrutinizing the adequacy of traditional financial theories using insights from the disciplines of psychology and sociology. Many studies within its realm test the stock market behaviors, and behavioral phenomena are still to be tested in the area of corporate finance. This study aims to contribute to the behavioral corporate finance literature by a research in one of the psychological phenomena affecting the decision makers＇ abilities to reach conclusions rationally. In this study, it is aimed to investigate one of the biases, namely, the optimism bias in corporate capital budgeting decisions. Optimism in decision making can be associated with estimating lower costs and higher revenues. Thus, by assessing the forecasts of decision makers, the existence of optimism in their decisions is tried to be seen. This study aims at contributing to the literature in that it is conducted in an emerging country like Turkey.
文摘International joint ventures （IJVs） have increasingly their role in business world and also in research field of international business. There have been a lot of studies related to determinant factors of IJV performance. However, there are very few studies focusing on the measurement of I Jr performance. Especially, researchers have ignored how foreign parent firms really choose their measures in the evaluation of their IJV performance. This research investigates determinant factors of performance measures of 1JVs. Determinant factors of IJV performance measures include motives for establishment, establishment mode, location of IJVs, distribution of ownership in IJVs, cultural background of parent firms, and trust between partners, IJV life stages, parent firms＇ international experience, and relatedness of the IJVs to their parents. Performance measures are divided into financial measures and non-financial measures. The paper shows how different determinant factors are expected to lead foreign parent firms preferring one kind of measure over the other.
基金Supported by the Key Technology R&D Program of Tianjin,China(No.11ZCKFGX21100)Tianjin New Coastal District "Ten Campaign" Major Science and Technology Project(No.2010-BK140009 and 2010-BK140002)+1 种基金National Basic Research Program of China("973" Program,No.2009CB219900)the Program for Changjiang Scholars and Innovative Research Team in University(No.IRT0936)
文摘A refrigerant mixture TJR02 was developed and the comparison experiment was performed on a singlestage vapor compression refrigeration system originally designed for R22.Experimental results show that TJR02 can be directly used in the system without modifying the original system or changing lubricant.By replacing R22 with TJR02,cooling rate gets faster and at least 20% of energy is saved.The actual detection in the standard test-bed verifies the experimental results and indicates that the adoption of TJR02 leads to greater efficiency and wider application.And the lower the refrigeratory temperature is,the more obvious the energy saving effects will be.
